Google is shutting down its premium video service, leaving users who purchased or rented content unable to access their videos in the future. They won't receive refunds but are offered a $5 credit on Google Checkout, expiring in 60 days. The move comes after Google's acquisition of YouTube on October 9, 2006, making Google Video less relevant. Analysts criticize the decision, as users lose access to content they bought despite functioning players. Google originally launched this video hosting service on January 25, 2005. The BBC reports it here.
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